The fractal nature of the market has been on full display in the EURUSD since the top last year at 1.60. There are 5 waves down and 3 waves up at 2 degrees of trend. The ‘1-2’ down from 1.4723 is waves 1 and 2 of the next 5 wave decline. At this point, price should remain below 1.3586. Price ideally remains below 1.3339 but a push above there would shift short term focus to 1.3415.
